You can barely trust the default money, that need to have physical support in the back. How can you trust money that jump in value only because “Now they are cool and awesome!”? What happens when they will not be awesome and cool?

wickedpixel said
You can barely trust the default money, that need to have physical support in the back. How can you trust money that jump in value only because “Now they are cool and awesome!”? What happens when they will not be awesome and cool?

At the moment people do not trust banks, so they invest their money in resources that are reliable. Bitcoins are not tied to a bank (so it can’t go bankrupt), which makes it reliable, just like gold. There is also no inflation in Bitcoins, because the system is built in a way that there can only be around 21 million bitcoins.

wickedpixel said
You can barely trust the default money, that need to have physical support in the back. How can you trust money that jump in value only because “Now they are cool and awesome!”? What happens when they will not be awesome and cool?

At the moment people do not trust banks, so they invest their money in resources that are reliable. Bitcoins are not tied to a bank (so it can’t go bankrupt), which makes it reliable, just like gold. There is also no inflation in Bitcoins, because the system is built in a way that there can only be around 21 million bitcoins.

Not so reliable when the value drops 35% overnight because of some malfunction somewhere, then double in price the next week, sets a record the week after that, then suddenly drops again.

Farming is one thing, investing is another. Investing is as dangerous as straight up gambling.